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      Question

      Which banking transaction involves the transfer of funds

      from one bank account to another electronically, often used for paying bills or making purchases?
      A Opening a fixed deposit account Correct Answer Incorrect Answer
      B Safe deposit box rental Correct Answer Incorrect Answer
      C Electronic funds transfer (EFT) Correct Answer Incorrect Answer
      D Loan origination Correct Answer Incorrect Answer

      Solution

      Electronic funds transfer (EFT) is the transaction that allows the transfer of funds electronically from one bank account to another, commonly used for various payments.

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